Additionally, because there is no physical product or centralized organizing body, it is hard to point to anything and say “see, that good thing happened, crypto values will increase now”. So how does cryptocurrency gain value?
SafeMoon doesn't tout itself as a cryptocurrency but instead as a DeFi token, a decentralised finance token. DeFi’s aim is to bring about disruption to the financial world and enable people to lend in peer-to-peer networks without needing a physical bank.
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In an inflationary environment, assets like Bitcoin appear more attractive to investors. The BTC price rallied to a new all-time high on Wednesday.
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Now, to be fair to the bitcoin bros (not great) and XRP army (worse), even the World Health Organisation had around that time started pushing the idea that Covid could be being spread by banknotes (while simultaneously recommending that people should not wear masks), now thought to be “very unlikely”. Even if banknotes were a key transmission vector, however, we are not sure that “dirty fiat” itself could be held responsible, given that the vast majority of it only exists in digital form. Why would you use bitcoin, or XRP, or any other crypto token when you can transact digitally using fiat currencies?
Some are curious if this meme coin will ever truly see a full Shiba and Dogecoin-like impact, although it’s already off to an impressive start.
Something is brewing over at SafeMoon. The DeFi project is close to launching a widely anticipated V2. The team is targeting greater adoption and additional use cases with the launch of V2.
QUIZ: Do you everything that brands are doing to drive awareness about cryptocurrencies?
Bitcoin set another new all-time high Wednesday afternoon over $68,000. And then it promptly dropped down to below $65,000, where it remains Thursday morning.
Cryptocurrency is an exciting concept with the power to fundamentally alter global finance for the better.
CRYPTOCURRENCIES are a form of payment that can be exchanged for goods and services.
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Every trade contributes towards auto-generating liquidity that goes into multiple pools used by exchanges
First US exchange traded fund linked to cryptocurrency garners strong demand following debut
A further blow was dealt when China ordered Bitcoin mining in its Sichuan province to shut down completely and furthermore told banks to stop supporting crypto transactions, in a latest wave of restrictions on cryptos.